Former NNPC Boss Andrew Yakubu Forfeits N3bn to Nigerian Govt

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A COURT has ordered that the $9.8 million and 74,000 pounds recovered from a house belonging to Andrew Yakubu be forfeited to the Nigerian government. The anti-graft agency, EFCC, last Friday announced it recovered the money (about N3 billion in totals) from a Kaduna home of the former head of the state oil firm, NNPC.

Yakubu, who reportedly admitted owning the money has since been arrested and is in custody of the EFCC. The Federal High Court in Kano presided over by Justice Zainab Abubakar ordered the forfeiture on Tuesday.

The order was sequel to an ex parte application by the EFCC seeking an interim forfeiture of the recovered money to the Federal Government. The application was moved by Salihu Sani, counsel for the applicant.

In her ruling, Justice Zainab held “That the sum of $9,772,000 (Nine Million, Seven Hundred and Seventy Two Thousand United States Dollars) and £74,000 (Seventy Four Thousand Pound Sterling) which are now in the custody of the applicant (EFCC) are in the interim forfeited to the Federal Government of Nigeria”

The huge cash was hidden in a fire proof safe, the commission had said. The spokesperson for the EFCC, Wilson Uwujaren, said in a statement that the surprise raid of the facility was sequel to an intelligence which the commission received about suspected proceeds of crime believed to be hidden in the slums of Sabon Tasha area of Kaduna.

On arrival at the facility, the caretaker of the house, one Bitrus Yakubu, a younger brother to Andrew Yakubu, disclosed that both the house and the safe where the money was found belong to his brother, Andrew Yakubu.

When the safe was opened it was discovered that it contained the sum of $9,772,800 and another sum of £74,000. On February 8, Yakubu reported to the Commission’s Zonal office in Kano and made statement wherein he admitted ownership of the recovered money, claiming it was gift from unnamed persons, Mr. Uwujaren said. – Premium Times

—  Feb 15, 2017 @ 15:55 GMT

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